Business
Admix raises US$25 million in Series B round
Admix raises US$25 million in Series B round.
About this update from Mindflair Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3242Q\n Pires Investments PLC\n 26 October 2021\n \n \n \n \n 26 October 2021\n \n \n Pires Investments plc\n \n \n \n \n \n (\"Pires\" or the \"Company\")\n \n \n \n \n \n Admix raises US$25 million in Series B round \n \n \n \n \n \n Pires Investments plc (AIM: PIRI), the investment company focused on next generation technology, is pleased to provide an update on \n Admix, the leading In-Play monetisation company that bridges the gap between gaming content and brands,\n which Pires is invested in through its investment in Sure Valley Ventures (\"SVV\").\n \n \n \n \n \n Admix has announced that it has successfully raised US$25 million in a Series B round to scale up its In-Play solution worldwide and establish it as the content monetisation layer for gaming worlds and the formative metaverse.\n \n \n \n \n \n This new funding has been raised at a valuation that represents around 1,500% of the company's valuation at which SVV initially invested in the business in 2018. This clearly reflects the significant progress that Admix has made to date.\n \n \n \n \n \n The Series B round is the largest secured by any non-intrusive games monetisation company and brings Admix's total funding to date to US$37 million. SVV participated in the Series B round alongside renowned VCs Elefund, Force Over Mass, DIP Capital, Notion Capital, Speedinvest, Rocket Capital, Colopl Next and Sidedoor Ventures, as well as growth investor Kuvi Capital and angels from the gaming industry.\n \n \n \n \n \n Founded in 2018, Admix provides a solution that bridges the gap between brands, creators and advertisers using non-intrusive product placements integrated inside video games. Over 300 global games and thousands of advertisers currently use Admix's end-to-end platform. The company has recently made key hires in the Americas and APAC where its presence will now be expanded further. \n \n \n \n \n \n The first phase of Admix's development has proven its commercial model, which is on track to deliver very significant year-on-year revenue growth. This new capital is set to fund Admix's evolution as a set of monetisation tools for the new creator economy, and its second critical phase of product development that will set standards in the formative metaverse. In building the technology...